Beach Energy Limited Stock Market Press Releases and Company Profile
Beach Petroleum Limited (ASX:BPT)
Beach Petroleum Limited (ASX:BPT)

Adelaide, July 9, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 8 July, 2009. Highlights of the week's activities include:

Beach Petroleum Operated Cooper / Eromanga Exploration (PEL 92)

Cheetima-1 (PEL 92, Beach 75%) has been plugged and abandoned after wireline logs confirmed the absence of commercial hydrocarbons in the well.

The Ensign 30 rig will be moved to the Willunga-1 location, also in PEL 92 and located 15 km north west of the Parsons oil field. Willunga-1 will evaluate prospectivity of the Birdsville Track Ridge area in the western part of the Licence. The well will be addressing potential mean recoverable oil reserves of 1.3mmb and a high side potential of 2.8mmb (recoverable).

Arrowie Basin (South Australia) - Paralana-2 Geothermal Exploration Well

The Paralana-2 geothermal exploration well is currently drilling ahead at a depth of 480 metres in the Maree Formation. Interests in Paralana-2 are tenement Operator Petratherm (69%), well Operator Beach Petroleum Ltd (earning 21%) and TRUenergy (earning 10%). The equities indicated for Beach and TRUenergy are after completion of farmin obligations, which include participation in the drilling of Paralana-2 plus a follow-up well.

Browse Basin, Offshore Western Australia - Burnside 1ST1 Gas Exploration Well

Burnside-1 has been sidetracked due to mechanical issues. Burnside-1ST1 is drilling ahead at a depth of 2320 metres. Interests in Burnside-1 are Santos Offshore Pty Ltd (Operator, 47.83%), Beach Petroleum Ltd. (7.34%), INPEX Browse, Ltd. (20%) and Chevron Australia P/L (24.83%).
---------------------------------Well               Participants---------------------------------Cheetima-1         BPT*    75.00%PEL 92             COE     25.00%Oil ExplorationC/E Basin, SA--------------------------------------------------------Weekly Progress & Summary               Primary Targets--------------------------------------------------------Report Time: 0600 hrs (CST) 08/07/2009  Namur Sst,Depth:       1805m (TD)                 Poolowanna Fm(s)Operation:   Well has been plugged and  Birkhead Fm /              abandoned. The Ensign 30     Hutton Sst (s)             rig will be moved to the             Willunga-1 location.Progress:    1708m---------------------------------Well               Participants---------------------------------Paralana-2         BPT*    21.00%GEL 178            PTR     69.00%Geothermal Expln   TRU     10.00%Arrowie Basin, SA--------------------------------------------------------Weekly Progress & Summary               Primary Targets--------------------------------------------------------Report Time: 0600 hrs (CST) 08/07/2009  Upper CannanaDepth:       480m                       or Bolla BollanaOperation:   Drilling ahead in the             Maree Formation.Progress:    291m----------------------------------Well                Participants----------------------------------Burnside-1ST1       BPT      7.34%WA 281P (offshore)  STO*    47.83%Gas Exploration     IBL     20.00%Browse Basin, WA    CVX     24.83%---------------------------------------------------------Weekly Progress & Summary                Primary Targets---------------------------------------------------------Report Time: 0600 hrs, (WST) 08/07/2009  Lower CretaceousDepth:       2320m                       sandsOperation:   Burnside-1 has been             sidetracked due to             mechanical issues.             Burnside-1ST1 is drilling             ahead.Progress:    616m----------------------------------Well                Participants----------------------------------Cowralli-11         BPT     20.21%PPL 91 (PSW Block)  STO*    66.60%Gas Development     ORG     13.19%C/E Basin, SA-------------------------------------------------------Weekly Progress & Summary               Primary Targets-------------------------------------------------------Report Time: 0600 hrs (CST) 08/07/2009  Patchawarra FmDepth:       2957mOperation:   Drilling ahead in the             Patchawarra Formation.Progress:    1384m---------------------------------Well               Participants---------------------------------Theta-2            BPT     23.20%PL 241 (Total 66)  STO*    60.06%Gas Development    ORG     16.74%C/E Basin, QLD-------------------------------------------------------Weekly Progress & Summary               Primary Targets-------------------------------------------------------Report Time: 0600 hrs (CST) 08/07/2009  Toolachee FmDepth:       2381m (TD)                 Epsilon FmOperation:   Well has been cased and             suspended as a Toolachee             and Epsilon Formation gas             producer.Progress:    1617m
* Operator
(s) Secondary Targets

ASX:BPT Beach Petroleum Ltd
ASX:PTR Petratherm Ltd
ASX:COE Cooper Energy
ASX:STO Santos Limited
ASX:ORG Origin Energy Resources Ltd
CVX Chevron Australia Pty Ltd
TRU TRUenergy Pty Ltd
IBL INPEX Browse, Ltd.

Contact

Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833



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